Home Commercial Property Zoopla-owner ZPG reports jump in profits

Zoopla-owner ZPG reports jump in profits

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29th Nov 17 9:38 am

Also announced plans to buy Dutch property analysis firm

The company behind British property portals, Zoopla and PrimeLocation, has reported rising revenue and announced the acquisition of a Dutch analytics firm as it continues its expansion drive.

ZPG said its sales rose 24 per cent to £244.5m in the year to September 30, while pre-tax profits nudged up 4 per cent to £48.1m as it booked record traffic of 648m online visits.

The company also announced plans to buy Dutch property analysis firm, Calcasa, for £26.5m in a deal, which they say, will see the creation of the largest residential property valuation database in Europe.

Founder and chief executive Alex Chesterman put the results down to a combination of “underlying organic growth and further strategic acquisitions”.

Consumers are increasingly turning to these websites to shop around for the most attractive deals on products and services amid uncertainties in the property market following Britain’s vote to leave the EU.

Chesterman added: “This is another example of a transaction that fits perfectly with our strategy. Calcasa is a market-leading business that we know well with strong underlying growth and which we believe will be even stronger under our ownership.

“And we are buying the business at a price that is accretive to our shareholders.”

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